Egyptian fashion rental platform, La Reina secures seed funding.

Egyptian fashion rental platform, La Reina secures seed funding.

Egypt-based online fashion rental platform La Reina has raised an undisclosed six-figure seed round from 500 Startups, Algebra Ventures, with participation from a group of angel investors.

La Reina is an online platform that matches dress owners to renters directly.  

Sharif El-Badawi, the Managing partner at 500 Startups Middle East and North Africa, stated, “Though Covid-19 has triggered seismic shifts in shopping behavior, we are impressed with how Ghada and her team have worked hard to quickly pivot its strategy to cope with this new era and keep the fashion clothing accessible to its customers. We are excited to support La Reina as they continue expanding their product offerings and forge ahead as pioneers in this fashion rental space.”

La Reina will utilize the fresh funds to grow its team and launch its latest fashion subscription service for women called The Box. 

The Box will offer users with day-to-day clothing from their favorite brands, which will be delivered to their doorstep weekly or monthly for a subscription fee. Customers will then use the items and return them the following week.  

According to the startup, users can choose their preferred clothes on the La Reina app or website. The startup has collaborated with different fashion brands such as Zara, Massimo Dutti, Mango, Stradivarius to provide its users with the latest collection.

The co-founder and CEO of La Reina, Ghada Eltanawy, said,  “We created The Box to offer practical shopping solutions for women who lead busy lives but are also keen on looking their absolute best every single day. We want our members to become versatile in dressing up while also encouraging them to create a very minimal wardrobe. Such an approach stresses the importance of fashion sustainability; The Box helps with decreasing the fashion footprint by 85 percent with each subscriber making it a game-changer that shapes the future of fashion and how we consume it.” 

Ever since she founded La Reina in 2016, it has over 100,000 registered users on its platform. 

 

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